Factors Affecting Productivity Jamb Economics Past Questions
Question 6
if ˉx\bar{x} = 6 and N = 6, determine the value of ∑fx
- A. 36
- B. 12
- C. 1
- D. 72
Question 7
Which of the following could be used to measure the efficiency of labour?
- A. rate of inflation
- B. input-output ratio
- C. buying more machines
- D. unemployment rate
Question 8
An example of a long-run cost of a firm is
- A. fuel and maintenace cost
- B. the planned size of plant equipment
- C. the existing size of plant and equipment
- D. rent on buildings
Question 9
Improved labour efficiency can be measured by?
- A. an increase in output-input ratio
- B. an decrease in output-input ratio
- C. the constancy of input-output ratio
- D. an increase in input-output ratio
Question 10
Labour productivity is defined as?
- A. output per man/hour
- B. average output
- C. the maximum number of hours worked
- D. total level of output